Medical device maker ResMed rises on Q2 profit beat

Shares of medical device maker ResMed RMD.N rise 4.8% to $270.01 in premarket trading

Co on Thursday posted Q2 adj. EPS of $2.81, beating analysts' average estimate of $2.72 - data compiled by LSEG

Results helped by strong demand for co's sleep devices

RMD recorded $6 million of restructuring-related charges from workforce planning activities in Q1

Q2 revenue of $1.42 billion marginally beat analysts' average estimate of $1.40 billion

At least three brokerages raise PTs on RMD after results

Of 21 brokerages tracking the stock, 13 rate it "buy" or higher, seven "hold" and one "strong sell"; their median PT is $300 - LSEG-compiled data

Up to last close, RMD gained 7% YTD